Cidel Asset Management Inc. Acquires Shares of 3,281 Bloom Energy Corporation $BE

Key Points

• Cidel Asset Management opened a new position in Bloom Energy during the first quarter, buying 3,281 shares worth about $445,000.
• Bloom Energy continues to attract major institutional interest, with hedge funds and other investors owning 77.04% of the stock and several large funds adding sizable stakes recently.
• The company reported a strong quarter, with EPS of $0.44 versus $0.12 expected and revenue of $751.05 million, up 130.4% year over year.

Cidel Asset Management Inc. bought a new stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,281 shares of the company's stock, valued at approximately $445,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklands Fund Management Ltd purchased a new position in Bloom Energy during the 4th quarter valued at about $347,560,000. Norges Bank bought a new stake in Bloom Energy during the fourth quarter worth about $239,683,000. Amundi grew its holdings in Bloom Energy by 390.7% in the fourth quarter. Amundi now owns 3,154,197 shares of the company's stock worth $274,068,000 after purchasing an additional 2,511,426 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Bloom Energy in the third quarter worth about $141,679,000. Finally, Man Group plc increased its stake in shares of Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company's stock valued at $57,239,000 after purchasing an additional 1,530,167 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BE has been the subject of several recent research reports. Sanford C. Bernstein initiated coverage on shares of Bloom Energy in a report on Tuesday, June 16th. They set a "market perform" rating and a $276.00 target price for the company. Wall Street Zen upgraded Bloom Energy from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Wells Fargo & Company raised their price objective on Bloom Energy to $217.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. Barclays raised their price objective on Bloom Energy from $254.00 to $276.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $335.00 price objective on shares of Bloom Energy in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.36.

Bloom Energy Stock Down 5.5%

NYSE:BE opened at $308.37 on Friday. The firm has a market cap of $87.71 billion, a P/E ratio of -6,166.13 and a beta of 3.73. The company has a debt-to-equity ratio of 2.90, a quick ratio of 4.10 and a current ratio of 5.03. Bloom Energy Corporation has a fifty-two week low of $21.50 and a fifty-two week high of $351.28. The firm has a 50-day simple moving average of $273.94 and a two-hundred day simple moving average of $184.71.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.32. The business had revenue of $751.05 million during the quarter, compared to analysts' expectations of $539.94 million. Bloom Energy had a net margin of 0.25% and a return on equity of 21.05%. The business's revenue for the quarter was up 130.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Analysts predict that Bloom Energy Corporation will post 1.31 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In related news, Director John T. Chambers sold 55,000 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $297.69, for a total value of $16,372,950.00. Following the transaction, the director directly owned 238,333 shares of the company's stock, valued at approximately $70,949,350.77. This represents a 18.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,842 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.63, for a total value of $820,286.46. Following the sale, the insider owned 132,265 shares in the company, valued at approximately $38,175,646.95. This represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 230,274 shares of company stock valued at $58,696,472 over the last ninety days. Corporate insiders own 3.00% of the company's stock.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.

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